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City approved to designate CPRMC a Texas Enterprise Zone

Designation of Cedar Park Regional Medical Center provides tax relief, attracts private investment and helps provide jobs

Post Date:05/14/2020 6:00 pm
CPRMC buildingThe State of Texas has authorized the City of Cedar Park and Cedar Park Regional Medical Center to join in a program that will create a higher level of employment, economic activity and stability in Cedar Park.   Governor Greg Abbott’s Economic Development and Tourism Office announced it has approved Cedar Park Regional Medical Center as a Texas Enterprise Zone.  

The City of Cedar Park nominated Cedar Park Regional Medical Center to participate in the Texas Enterprise Zone Program after City Council authorized its participation in February.  This State program allows municipalities to designate zones or projects for the State’s Enterprise Program, which, in turn, provides State tax relief for qualified applicants. 

Mayor Corbin Van Arsdale said, “Even during this hard and dizzy time, Cedar Park is growing and expanding.  This Enterprise Zone Project allows Cedar Park Regional Medical Center to receive State sales tax funds as an incentive on purchased materials used to expand the hospital.  These State incentives help meet our residents’ needs by growing one of our target sectors—healthcare. This is a big deal for our community.”

The designation of Cedar Park Regional Medical Center as an enterprise project will contribute significantly to the achievement of the plans of the City for development of and investment in the area.  There has been and will continue to be a high level of cooperation between public, private, and neighborhood entities within the area of Cedar Park Regional Medical Center.  The creation of this zone essentially enables the City and Medical Center to pursue the creation of the proper economic and social environment in order to induce the investment of private resources into productive business enterprises located in the City and to provide employment to residents of enterprise zones as well as to economically disadvantaged people.  Under the program, at least 35 percent of Cedar Park Regional Medical Center’s new employees will be residents of the enterprise zone, economically disadvantaged individuals, or veterans.     

Cedar Park Regional Medical Center CEO Bo Beaudry said, “We are very thankful for this designation.  It will allow for the development of new healthcare services and positions to meet the needs of our community. We truly value our relationship with the City of Cedar Park and their nomination for the Texas Enterprise Zone."